Russia's oil exports could be sustained if it finds workarounds to the latest U.S. sanctions package, the International Energy Agency (IEA) said on Thursday, as it forecast that growth in global oil supply would outpace demand this year.

Russia has increased oil production despite facing Western sanctions, highlighting the effectiveness of its workarounds to circumvent restrictions.

Russian oil exports could be sustained if workarounds to the latest U.S. sanctions package are found, after Russian crude production rose slightly last month, the International Energy Agency (IEA) said in its latest oil market report.

Concerns over supply constraints have supported oil prices, with Brent crude exceeding $80 per barrel in January before retreating below $75 following Trump's latest trade tariffs.

India, the No. 2 importer of crude from Russia, wants to buy Russian oil only if it is supplied by companies and ships that have not been sanctioned by the United States, the country's oil secretary said.

Russia's oil production may decrease due to U.S. sanctions affecting tanker access and Ukrainian drone attacks crippling refineries. With limited storage and falling exports, output cuts are likely. Russia's economic strain grows as global buyers demand non-sanctioned tankers and lower crude supply impacts revenue.

Fresh US sanctions on Russia’s oil exports have yet to impact supply, the International Energy Agency said on Thursday. “Fresh US sanctions on Russia and Iran roiled markets at the start of the year but they have yet to materially impact global oil supply,

Russia may be forced to throttle back its oil output in the coming months as U.S. sanctions hamper its access to tankers to sail to Asia and Ukrainian drone attacks hobble its refineries. The United S

Russia's revenue from crude oil and petroleum product sales in January increased by $900 million compared to December, reaching $15.8 billion. This was due to rising oil prices and stable export volumes despite sanctions,